the dow moments away and our i good morning, even, we can argue all day long why this is happening, but it is happening, stocks are on a roll. another new high today. it seems like bad news for the economy is very good news for your 401(k). and by the way, there is bad news this morning. the big banks said this holiday shopping season, the last few months of this year will be grim. and here is your monday morning obamacare update. a second broken promise. not everyone may keep the doctor they like. united health care drops thousands of doctors from medicare advantage, hundreds of thousands of patients cannot keep their doctor. and "varney & company" is about to begin. [ bagpipes and drums playing over ]

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>> so, yeah, here you go. and it's moving. >> moving around here, and

there it is. >> oh. stuart: look, look, look at that. see? thanks very much, everybody. well, we had a little fun and that was me playing on the sony playstation 4 on friday the day they went on sale. how about this for a number? sony sold a million of them on that first day. that's just in north america. the console retailed for $400 apiece. it will hit the store shelves the day thanksgiving in europe. and microsoft xbox $500 big sale on friday for sony. amazon launched its first original series, a 30 minute show described as a political comedy called alpha house, about four republican senators that share a house. currently, amazon has just the first three episodes up there for free for everybody to watch, here is the catch, unlike netflix which releases all content at once, the rest of the episodes will only become available on a weekly basis every friday, only if

you're an amazon prime member. amazon is chasing netflix in the original streaming contents here. do not adjust your sets. you could be seeing 16,000 on the dow, record territory for the market. here it comes probably in six minutes. first a news update for you, serious stuff. the tornados in the midwest, widespread damage in illinois. 80 tornados reported. 200 mile per hour winds. six people killed. hundreds of homes destroyed, towns in illinois virtually flattened. now, check this out. the chicago bears against the ravens. the game evacuated, the stadium evacuated and the game delayed nearly two hours because of that storm. well, the bears ended up beating the ravens 23-20, but i can't remember a storm interrupting a game like that before. but it did. [ male announcer ] what if a small company became big business overnight?

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♪ blue christmas without you >> it could be a blue christmas without shoppers. morgan stanley calling in its forecast, weak sales this christmas. in fact, morgan says go all the way back to 2008, that's how bad this christmas shopping season will be. and remember back then, not many people were spending that much money because it was the

start of the financial crisis, they say it's going to be just as bad this year. interesting that one. we've got a minute till the opening bell, so come on in, larry levin in chicago. on friday morning, larry said we hit 16,000 today, monday. you've got it right. okay, take your bow and then tell us what's driving the market? >> driving the market, stuart, more of the same. that's why i knew 16,000 would be today. 1800 in the s&p today because of the fed, the fed isn't going away anytime soon and janet yellen didn't give us indication what she knows what the word tapering is and sit on our hands as far as the longs are concerned. stuart: that was sarcasm. she doesn't know what tapering is. are we in the situation, bad news on the economy is good news for stock investors. >> absolutely, bad economic data, bad jobs report. bad retailer numbers coming this christmas will push the

market higher because it will keep the fed doing anything what it's been doing to keep the markets high and talking 17,000 dow pretty soon. stuart: excellent, larry, excellent stuff. great way to start a monday morning, the market is about to open and we're on 16 k watch. it may happen within seconds of the actual trading session beginning. here we go. and we are-- we closed friday at 15,961. we've opened up this monday morning, a modest gain, we're expecting a bit more, now we're up 15 points, thank you, everybody, 16,000, happened right here, 20 seconds into the trading session this monday morning. we'll keep that up for you. you'll be able to watch it keep going there. and all right, 16,000, it has happened. i've got to bring your attention to boeing, which is a dow stock, by the way, huge numbers from them, sales numbers. 100 billion dollars worth of orders for the latest model of the triple 7 jets.

that's at the dubai air show. nicole: largest order ever looking at a new high. we're seeing it jump right now. 140.31, higher moments ago. in the meantime, the dow jones industrials at 16 self-,000 and wait, and the s&p 500 at 1800. stuart: that's a triple high-- a double big time high for the s&p 500 and the dow 16,000. i want to point out to everybody, when boeing had the trouble, the initial trouble with the dreamliner, they were back in the $70 per share range and they are virtually doubled since then. and by the way, boeing's a dow stock, so clearly the dow needs help. and sony sold a million of those playstation 4 consoles on one day in north america alone and the stock is up 65% and today another 3%, sony is at 19.

you better watch out, netflix and hulu. amazon launched its first streaming content the political drama "alpha house" give me amazon. nicole: it's up fractionally, barely hold be onto a gain. and 369.40. stuart: there's another stock that's virtually doubled very, very quickly, i think. i want to move on, on some other news this morning. i've got apple. it bought a company that makes technology for rival microsoft's xbox. so, first of all, apple, nicole, not much reaction there. nicole: that's pretty flat. we're looking at apple. they brought prime sense, the maker of the chip that enabled the 3-d machine vision. stuart: now give me microsoft. i know i'm going to be disappointed. now, what's the big story there. nicole: how did you know that's down a little bit? you're right. now you talk about competition is back and coupled with the fact that we have this about apple. apple buying these chips and you have a downgrade on

microsoft and the sony playstation 4 just came out. so, that's like a triple wh whammy. stuart: i just love the triple whammy to my pension fund on a monday morning. thank you, nicole. dow is up 54, 16,016 as we speak. and a lot of markets action to cover. so bring in keith fitzgerald from portland, oregon. keith, morgan stanley, first of all, morgan stanley says rotten holiday shopping season. the worst since 2008. it occurs to me that this is one of those occasions where bad news on the economy is just great news for the stock market. isn't it? >> well, you know, we used to joke about helicopter ben and he was going to print money and throw it out and i think that yellen has been getting her pilots license. if we get bad numbers i think it's generally going to be good for the stock market. stuart: i think so. let me bring to your attention an article in i think it's market watch barons. they said, look, we may have a tech bubble here because some of these tech stocks have gone straight through the roof. it's like 1999 all over again,

and you've got the snap chat at $3 billion. no, that's not enough and only got 20 employees and amazon's doubled and microsoft has gone up. apple has gone up. facebook's rallied and is it a tech bubble? >> of course, it's a tech bubble. the fact that these companies that we've never heard of for the most part have no profitable revenue stream and operating on potential. and the valuation of these things are billion dollars are asinine. we have clearly a tech bubble. we have a bernanke put, a yellen put and what's bad is good. you've pointed out you've got to be a reluctant bull or miss 100% of the swings you don't take. stuart: you wouldn't be buying the high-flying tech stocks at the moment? >> ironically, the one i would buy would warm your heart, i'm looking at microsoft. stuart: you're a good man. one more story for you, fidelity, largest provider of 401(k)'s, manager of them.

the average balance has reached $84,300 that's a record high. so, again, it brings back the idea that maybe the market is peaking, that it's the whole stock market is a bubble and ready to go down a little bit and what do you say to that? >> well, i think certainly the value game is getting harder to find because the dispersion is the lowest we've seen since june of last year in period and since record keeping began. is it a bubble? yes. is the value story harder to chase? yes. but buying good companies with solid management you wouldn't mind owning if you manage to buy at lower prices is the ey. be cautious, but you can't be out of this market because you'll be left far behind. stuart: keith, thank you very much indeed. let's leave our market coverage with the dow up 62 points this monday morning and 16,025. just hit that. and let's get to obamacare. congresswoman rob penninger is with us, a republican from north carolina. sir, i've been hearing an awful

lot from both republicans and some democrats about full scale repeal of obamacare. it is chaotic, it's a disaster and i'm hearing a lot of voices say repeal it completely. what do you think the chance of that happening really is honestly now? >> good morning, stuart. i think it's real. i think the american people are going to demand it. you know, the democrats, liberals, progressives, whatever you would call them, the strong proclivity of major programs from fdr, the great society that lyndon johnson launched to rid our country of poverty, to get that hasn't occurred even after 17 trillion dollars spending. and now, we have a coercive plan, much different, it's required and the failure is evident. in north carolina we have half a million people who can't keep their own plan. stuart: i guess it depends on the democrats, how many of them

will actually retreat from president obama and say, we can't go into an election with this around our necks. that's what we've got to look for. one more item here, united health care has dropped thousands, thousands, we don't know exactly how many, but thousands of doctors from their -- from their medicare advantage program. so that means hundreds of thousands of people cannot keep the doctor that they want. this amounts-- this amounts to another broken promise, doesn't it? >> yes, of course, medicare is required to lose 716 billion dollars to help pay for obamacare. this is wrong. this is another broken promise and commitment to american people and we were told that we could keep our plan and we were told we could keep our doctor and now, this is beginning to unfold as well. so, i think you're going to see an ongoing unravelling of obamacare and the american people are going to say, we

want something that allows us options and freedom and a patient relationship with a physician that's competitive, that we will be able to have a formal health care and really be able to get the kind of care that we need and we want. stuart: i wonder if i can make a prediction and see if agree with it. on november the 30th the obamacare website is supposed to be fixed, substantially fixed. if it's not, i think that's the point of which more and more democrats peel away from the president and say, look, we can't do anything with this until we repeal it. what do you say? >> i totally agree with you. i think if you look at the actuarials and the risk pools that are required. if people can't easily access it, they're not going to and makes the whole financial capability of obamacare to be nonexistent. and you know, it's a train wreck as max baucus said. the insurance companies can't sustain it without the enormous premium increases we've seen

200 to 300% increase ins north carolina already. stuart: that's huge. a half million people who have been kicked off their plan in north carolina alone, a half million, is that accurate, sir? >> yes, sir, 1600 people have been able to sign up for the plan. that's disastrous. stuart: yes, sir, it is. the republican, north carolina. thank you so much for joining us on a very busy day, sir, we appreciate it, sir, thank you. >> you, too. stuart: the dow is holding above 16,000, up 60 points, 16,021. here we go. it's a monday morning and stocks are up again. the health insurance industry i'm going to say it's in chaos because of obamacare and the president maybe the fix there. canceled plans and sticker shock. will the president's fix work? do he have a chance here? after the break we ask the insurance industry leader about that. ♪ there have been bad times ♪ i have my share of hard

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>> read this and smile. 16,000 for the dow industrials this monday morning and read this and smile, a much broader-based indicator the s&p 500 actually did cross a milestone, that would be 1800. it's a broad-based rally for stocks. by the way, we've got five, five of them, count them, dow stocks hitting new highs this morning. they are boeing, 3m. exxon, ge, nike, new highs. nike retreated a fraction.

it flat. president obama last week said he would allow canceled insurance policies to be reinstated it's his fix. okay, what does the insurance industry think about that? we have senator ben nelson with us, he is now the ceo of the national association of insurance commissioners. senator, welcome to the program. it's very good to have you with us on a day like this, sir, welcome indeed. >> well, thank you, stuart. good to be with you. stuart: so what is the insurance industry's response to the president's fix? >> well, i'm not really in a position to respond to the-- about the insurance industry other than i do know that they have met with the president in the white house to talk about how they're going to react to it. stuart: okay. just from the insurance commissioner's point of view. >> the regulatory-- pardon? >> it's a regulatory thing. now, from the commissioner's point of view and you chair their organization, what do the commissioners think about this?

just let's keep your plan, what do they think about it? >> well, the commissioners have-- are concerned about what the president has suggested because it is a suggestion if you follow it because it's not a-- it's not a law, it's not mandatory from washington, all the the president has said in the hhs health and human services department has said is they will-- they will not enforce dropping those policies before you're in. and that's a great deal of concern and that's why the commissioners are concerned about it because of the size of the risk pool. anything that you do that reduces the number of people going into the total risk pool runs the risk of creating adverse selection, meaning we won't have as many healthy people potentially get in and you will have people who are ill or who have pre-existing conditions get in. so, there's a very big concern about rising premiums based on trying to implement this at the 11th hour, in the final days

before the requirement was to be in place. stuart: it sounds like chaos to us. i mean, anybody looking from the outside or from-- this is chaos, isn't it? >> well, it certainly creates a lot of uncertainty and so uncertainty is typically bad when you're dealing with actuarial science. actuaries are taking the data and trying to see how it goes going forward. if you throw something like this into the mix it creates a difficult thing for actuaries, regulators how to manage it as well. you've got some regulators who have already taken the position of saying that this, the policies could be extended, renewed until, for another ten months or something like that into next year to give more lead time from people to kind the coverage. you've got some who were

saying, no, we're going to stick with the plan as-is. so it's a real challenge for regulators to try to do what they think is best for their-- the residents in their state because the insurance and health insurance as well is regulated at a state level. just one more story i want to bring that your attention. i'm not sure whether you're in a position to comment on it or not. but i'm going to bring it to you. united health care has dropped thousands of doctors from its medicare advantage program. now, i know that you're on the regulatory side here, but that seems to me to be a huge slam for hundreds of thousands of people who wanted to keep their doctor and will not now be able to do it. do you have a comment, sir? >> well, sure, i do. that's medicare and that's not part of the affordable care act. that's a challenge, but-- >> hold on, senator, it's obamacare, which is forced this dropping because money from obamacare is going-- money pr from medicare is

going out of medicare and going to fund obamacare that's why united health is dropping all of these doctors. >> well, it's a very-- it's a big challenge to try to make the premiums that are taken in be sufficient for the claims and for the expenses that are associated with medicare advantage, for example, in keeping people healthy. i hope that they're able to sort this out. i'm sure that there will be a lot of concern raised about it and hopefully they'll find a way to take care of this so it smooths out going into the future. >> we appreciate you, it's a complex subject, but i believe we're in a state of chaos and i'm not sure we can get out of it. >> a lot of moving parts, thank you very much, stuart. >> thanks for being on the show and we appreciate it, a difficult time. china relaxes its one child policy. nothing to do with individual freedom over there, no, no, not

opening up to that. it's basically economics making them do it. so, my take on china. i want to reflect how we should reflect on our freedoms back home here. have that for you after the break. ♪ don't worry baby everything will turn out all right♪ ♪ don't worry baby twins. i didn't see them cing.

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>> we're eating a lot more chicken. chicken sales boosted profits at tyson sales and that stock is up maybe 23%. look hat j.c. penney one of the leaders on the s&p and charles payne likes it and he'll tell us why in the next hour. new at 10:00, one of the people responsible for printing the 3-d metal gun. printing a 3-d metal gun,'s he got it with him. he's in texas you'll see it. plus another warning from wal-mart they say you'll be spending less because of obamacare. yeah, we've got that story for you. china relaxes its one child policy. that's sensational news in china. perhaps it should make us think

about our freedoms in america. here is my take. china's new policy has nothing to do with individual freedom, it's all about their chronic demographic problems. their work force is not growing. the number of retired people is going through the roof. they desperately need more youngsters to pump money into china's insolvent pension system so they loosen up the rules and allow more people to have a second child. they're doing this for economic necessity. it's been forced on them. when i saw this on friday, i was struck by how it reflects on us. can you imagine a government official telling you that a second child is against the law and if you go ahead and have number two, you will be fined and you will lose your job and in fact, you may be forced into an abortion. how easily we take our freedoms for granted.. how stark is the contrast with authoritarian regimes elsewhere. our constitution gives us individual freedom. the government cannot dictate,

well, sure it tries to, in my opinion obamacare dictates what kind of health insurance we're to pay for. at least we have a voice to stand for what we want. and no such thing in china, raise your voice there, forget it. freedom of assembly, what is that? so step back a moment. this is still the country that millions want to come to. they want to come because america remains the capital of individual freedom. we may temporarily be in the grip of collectieists, but this will pass. you can't change america fundamentally or suppress america. when you see china allowing more than one child, remember how good we still got it here. [ male announcer ] imagine this cute blob is metamucil.

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>> chaos and confusion and broken promises, that's obamacare six weeks in. we have the latest shock this monday morning, november 18th. however, stocks are up again. here we go. we're going to bring in betsy mccoy on nancy pelosi dismissing critics saying that obamacare is the law of the land. really? there's nothing to be done about it? we have the judge on the firing of of d.c.'s insurance commissioner because he disagrees with the president. ken firestone is here, his 3-d printer pops out .45 caliber

pistols in your basement. that could be a problem for gun control. he's here with the gun. and scotty hughes from the tea party network is here and what's her take on the billionaire boys's club otherwise known as american technology. the new week is starting and stocks are up. ♪ >> you know, i was hoping to show you 16,000. it was there just a few moments ago, but now somebody sold a few dow stocks and off we are. 15,989. close enough for government work if you ask me. come on, charles, welcome back by the way. charles: thank you. stuart: we need your numbers and power. so some are saying this is a tech bubble and that it's going to burst. when you've got, what was it snap chat refusing a $3 billion offer, facebook rallying and amazon going through the roof,

it's a tech bubble and you say? >> oh, boy, you know what? i think the i go about -- biggest bubble of all are the stock market bears. i was out in palm beach and so many people are afraid the bubble is going to burst. if you keep saying it long enough, obviously some day we'll have a correction and pullback. trying to guess when we're going to hit the top i think as always been a huge mistake. be in it and letting your winnings ride. >> it's the outsize years when you can make a difference of 30%. >> you said ride this thing because it's going up? >> you know, take profits don't get me wrong, but don't just guess at the top. stuart: sandra smith is with us from chicago. what do you say to the bears? not the chicago bears, i'm talking about bears as in the stock market. what do you say to them? >> yeah, well, you know, charles-- to charles' point. >>, if you haven't been in the rally you've missed out on spectacular gains this year, but charles, the problem is the

year is not over and the big question mark is the fed. it's hard for an investor to, you know, have any security in this market when the stock market is so dependent on the feds's next move. what are traders down here watching? ben bernanke is talking tomorrow. fomc minutes on wednesday and all of these are going to decide whether or not we see the fed on the program-- >> hold on a second, the more bad news we get on the economy and we've got a bunch of bad news out this morning. >> that's right. stuart: the more the stock market is going up there's no way ben or janet is going to stop printing when you've got a lousy economy. is that the point? >> it's exactly the point. that's why the third biggest thing they're watching is initial jobless claims. if we get a bad jobs numbers on thursday, they're going to rally. we stopped 16,000 in the dow and 1800 in the s&p and everybody is scratching their heads and they don't know what's next. it's great we're hitting new highs. if you're in the market. if you're not in the market

you're probably scratching your head, what's next. stuart: last word. charles: quick, we had the same discussion at dow 12,000, 13,000, 14,000, 15,000 and you know, the idea that someone is not in the market, the reason they're not they've been frightened to death by people who only think the fed is moving the market not boeing getting 100 billion dollar order for airplanes. that's tangible stuff. stuart: he's blaming me, everybody. [laughter] no, no, believe me, there's a lot of people out there-- i don't mind people telling me it's a bubble. you've got to tell me two other things, what's fair value for the market and has it been fair missing this rally. stuart: and you walked down the street at worth avenue. charles: worth avenue, palm beach. stuart: what's the reaction to you? >> amazing. stuart: they liked you? >> never seen so many friendly people, i would say 40% asked for you, 40% asked for-- . [laughter] >> no, no, okay. charles, come on, nicole.

i've got big industrial companies leading the dow and tell me who they are and how big. nicole: did anybody ask for me? >> 20%, the other 20%. nicole: nobody beside my mothers cares? that's a good sign. right here are some of the new highs, you've seen that 3m and nike pulled back, but when you talk about record highs, boeing, ge, exxon, certainly great numbers and we talked about boeing's largest order ever. so, so far so good. monumental day on wall street. stuart: out of interest what was that boeing order? it was 250 planes or something like that? >> 259 of the new 777 jets and that's obviously the largest ever they've received. this is worth about over 100 billion dollars. stuart: yeah, that's a big order. no wonder the stock is up. all right, nicole, 20% asked for you, okay? now this. nancy pelosi still defending obamacare. just listen to this. >> i think we just have to remain calm, get through the

website getting fixed, clarify some misrepresentations about it, but it's the law of the land, it's an important economic and health stability issue, security issue for the american people. stuart: remain calm, ignore these misrepresentations, it is the law of the land. how about that? let's bring in one of the foremost critics of obamacare, somebody who knows what she's talking about, betsy mccoy, the author of beating obamacare and she's here with her favorite 31 prop, which is all 2000 pages of it. >> now, stuart, this is the law of the land, the affordable care act passed in 2010, but the obama health reform, which is being rolled out now is not the law of the land, it is a mangled distorted version of the affordable care act. look at this, here is the affordable care act, gone is the employer mandate. gone are over half the mandates in the law, gone is the cap on out of pocket expenses.

gone is income verification and added, subsidies for members of congress, 1472 waives and subsidies, and none of these can be seen. it's not the law of the land and-- >> former speaker pelosi is flat-out wrong again. this law, the tome of paper. >> that's right. stuart: that's been cut into. >> illegally changed by the president alone. stuart: okay, what do you make of it? we've been on the story all morning. that is united health care have dropped thousands of doctors from medicare advantage program. >> not surprising. stuart: that's hundreds of thousands of people who simply don't know who their doctor is going to be. >> that's right, and the reason it happened is that over half this law is paid for my cuts to medicare. stuart: okay. >> including cuts to what's paid to medicare advantage plans, to the insurers, 27% of seniors who are in the plans.

so, the insurers can make ends meet are reducing the number of doctors in their panels, they're cutting out the specialists, the cardiologists, the podiatrists, and millions of centers are getting letters that that particular doctor is not in the plan. the seniors are going to have to wait longer to get an appointment with a cheaper doctor. stuart: as money comes out of medicare, the insurers who cater to medicare people. >> yes. >> they will increasingly narrow the pool of doctors and hospitals which they use? >> yes, and the government has predicted before the end of this decade, half of the seniors in medicare advantage plans will leave, but the enrollment in medicare advantage will be only 50%. stuart: they want to destroy it? >> that's right, they're always intent on eliminating private sector medicare. stuart: let's suppose the president tries a fix on this, he says, no, we're not going to take 150 billion dollars away from the insurers, who insure

medicaid advantage people. we will restore that 150 billion dollars. doesn't that break another promise? >> oh, yes. stuart: they're going to have to borrow that money or tax them for it and breaks the bank on that, another promise broken. >> you're going to see the insurers sue because of the fix last week. on what grounds? >> they've spent hundreds of millions creating new plans with marketing campaigns to adjust to the requirements of the affordable care act. they've canceled their policies and they've moved, according to the law, according to what the law says, and now, the law is illegally changed by the president. our business sector cannot survive without the rule of law. they're going to go to court and sue and say, they've lost hundreds of millions of dollars because of this illegal act. stuart: then the whole thing goes on hold even more, we'll have to adjudicate. >> only if the courts grant a

temporary injurpgs. in tactful -- injunction. the president will lose because the federal judges are taking the president to the wood shed for changing the law himself. stuart: and i would have said the chans were 1 is%, and fast forward to today up to 30%. do you agree with that. >> i think what congress should do repeal this much. title one where the individual mandate, employer mandate, mandatory designed as health plans are and exchanges. they should repeal that and take 26 billion which will be freed up this year and 51 billion next year and directly provide it and block grants to high risk pools around the country to protect those people. 800,000 people with pre-existing conditions will not have insurance. they will be so vulnerable december 31st or shortly thereafter. the money should be quickly sent to the infrastructure in the states to protect them. stuart: it's a mess. betsy mccoy, we thank you for

being with us, you know what you're talking about. hold on a second. as if we needed another example of obamacare imploding, now the world's largest retailer says that the health care law, it could take money out of customer's pockets and they will have fewer sales. elizabeth macdonald is here, this is wal-mart saying this? >> yes, and this is wal-mart's president of the u.s. operations, phil simon, saying that he is concerned. also these investor relations director at wal-mart telling analysts on wall street, that there's deep concern that consumers, meaning the middle class low income consumer and the shopper coming into wal-mart's doors are now seeing obamacare hitting their wallets and there may not be the same spending power that these shoppers had in the past due to health reform. >> hold on it second. let's spell this out. under obamacare as it goes forward, tens of millions, if not maybe 100 million people will have to pay a higher

premium. i think i'm right in saying that, this'll probably have to pay a much bigger deductible and maybe even new and higher co-pays. >> right. >> that's the story going forward? >> that's the story and this is for the first time, we've seen a company say their sales will be hurt and we know about the medical device companies who have to by that exice tax on sales and even if they're bleeding red ink and treating them like an excise tax. this is the first time we've seen retailers coming out and saying that this will hurtment we expect it to hurt our own sales. meaning consumers coming in the door. true value hardware, the president there, the ceo's there saying massive concern at the hardware companies because of health reform. >> last word? >> because the government has decided it has the power to tell you and you and you how much you can afford to spend on health insurance and you don't have any choice. >> but this is treating health reform like a macroeconomic indicator now at the retailers, like gas prices going up or taxes going up and now it's

health care, health reform. >> got it, thanks, everybody, we appreciate it one and all. check this out. a 3-d printed gun. it's made of metal. we'll show it to you after the break and we've got one of these guns and the guy who made it on the set ready to go in texas. back in a moment. ♪ you better, but better, you better, you bet♪ you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ woman ] i wanna be a pie maker.

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>> i can't believe this. charles payne says he's going to make us money with j.c. penney. a stock i believe we put on death watch right before it rallied. charles: and that played an important role. stuart: i think so. with the adverse indicator. charles: at least the audience won't say you picked a stock already at a 52-week high. the high is $81 january of 2007. i'll admit that you know what? it's sort of jumping ahead of the turn in the actual fundamentals although it's one of the two i think so this, you've got expectations

extraordinarily low. they're not going bankrupt, they're working on things and bringing back the tiered j.c. penney reward programs and the stock closed up and sparked a nice mmve to the upside and double digit percentages to the upside. stuart: i thought it would be one of the first anchor stores in shopping malls to just go out because bricks and mortar was falling behind on-line sales and i thought that j.c. penney might be the name to go. charles: this has been an amazing year for bricks and mortar and department stores, and some of the models that we thought were flawed business models before the advent of the internet are hanging in there. j.c. penney has a lot of work to do, but the stock is beaten now pretty good. stuart: we listened to your advi advice. and they've done it, 3-d printing company solid concept showing off the first all metal 3-d printed gun.

the gun is based on the .45 caliber colt 1911 semi auto pistol. they one they printed has fired hundreds of shots and they're calling it a major break through in 3-d printing technology. does it represent also a security threat? there's a question for you. solid concept vice-president kent firestone is here. before we get to the security angle. tell me about the gun itself. it's a big machine and you printed a .45 caliber pistol with it. it's fired shots and not broken. >> that's correct. stuart: it's a big machine, not something that everybody can buy, correct? >> that's correct. it's a $600,000 system that prints with using metal lasers and starts with metal powder and laser melts every layer and you know, cross section by cross section to build up a 3-d

object. stuart: you would admit then that somebody of a criminal mind could buy a $600,0003-d printer, stick it in the basement someplace and churn out a lot of anonymous .45 caliber pistols, that's a lethal weapon. you could see that happen, couldn't you? >> i guess anything would be possible. they'd be smarter if they took $600,000 and bought guns on the street. stuart: who is your market for the product? >> the market is all over, you know, we do aerospace, automotive, consumer goods, firearm industry is just one of our many entities that we serve and really, this was more about bringing a technology out than making a 3-d weapon. stuart: i understand that. i'm trying to get to grips with the idea here. would it be possible for someone like me to buy a $600,000 3-d metal printer, set

it up in my basement and have it churn out 45's? is that a possibility or beyond the realm of reality? >> i mean, again, anything is possible. yes, you could do that. stuart: i don't want to-- >> however. stuart: could i get the blueprints to the software to print out a gun on the internet? >> we've got the-- it's open source so we've got those off the internet. the one thing i want to point out though, in order for you to do what you're talking about doing and to be legal you need a federal firearms license. stuart: yes, but a criminal person would not be too concerned about that would they? they could churn out anonymously a lot of .45's. what you're really telling us is that 3-d printing has arrived big time and is applicable to all kinds of applications we thought you had to do in a factory with a conveyor belt system, but apparently that's not the case? >> that's correct. there will be 3-d printed metal

parts on an aircraft engines in two years. stuart: are you a publicly traded company? >> we are not, no. stuart: are you looking to be bought by some big guy? >> that's not why we did this at all. no. stuart: what did you do it for? >> we did it to prove out the technology, to dispel any myths about the strength of the materials and process. stuart: are you going to do an ipo? >> that's-- not that i'm aware of. stuart: you're content to sit on this company and watch it grow without cashing in big time? >> well, you know, obviously we're a privately held company and our major shareholder, you know, it's really his decision as to anything that might happen along those lines. stuart: look, we appreciate you bringing us the story because a lot of people are intrigued at stamping out your own .45 in your basement even at the cost of $600,000. we appreciate you being with us. >> thank you. stuart: on the case i've said

in the program that nobody wears watches anymore and i think i'm generally speaking, charles, that's true. turns out i may have been wrong generally speakingment one company is catching in on it. after the break we'll show you a $80,000 watch. charles would wear this thing. and the point is where do the watches come from? how do they arrive on my wrist? i'll tell you. ♪ time after time ♪ if you're lost you can look and you will find it♪ time after time♪ [ female announcer ] tide pods three-in-one detergent.

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>> back at 16,000 to be precise 16,009. two big losers from the tech sector. netflix. and then we have microsoft, bank of america cut the stock to an underperform. i own this thing down 1.3%. back at 37.33 right now. i thought wristwatches were out of style. but you won't believe the market being made in secondhand luxury timepieces.

hamilton, welcome to the program. >> thanks for you to stuart: if i were to own a luxury timepiece in the unlikely event i shelled out a lot of money for one, if t rid of it, sell it, i can go to the original retailer, don't think i will get a very good deal.ylm i can go to a pawn shop, don't think i will get a very good deal. if i come to crown and caliber.com, you think i will get a better deal. tell me. >> the reason why is a natural relationship between a buyer and a seller is naturally adversarial. i'm going to buy it, and sell it. whether you go and try to sell it to an individual or a retailer, you're going to get x and y. stuart: it is basically an exchange. >> what we have done as we have created a better option, we call it modern code assignment. we help individuals sell their watch, we work for the customer,

the individual seller sends us their watch and we go to work and sell it a lot of different ways for them. stuart: what have we got on the screen for the moment? we have four watches. how much was that one when somebody originally bought it? >> in the six figures. stuart: over $100,000? >> yes. stuart: how much could a seller get this? >> we are selling on behalf of our customers. this one will go for over $80,000. that is the estimate we put on this watch for our customer. stuart: you will take a piece of the 80,000. >> we charge 19.5% consignment fee. stuart: i cannot believe so many people want a luxury watch.

you have given yourself numbers during the break. >> in 2012 over $20 billion worth of swiss mechanical watches exported from switzerland. that represented 16% increase over 2011. so the brand-new watch market is continuing to grow, and what that does is every year it makes the preowned market bigger and bigger and bigger. we've seen a big surge in people trying to sell their watches, which is why we as a company have gone from two employees to 13 employees in 18 months. stuart: why would you buy a luxury product like this? charles: you know what, the craftsmanship for me it is like somebody buying and nice car but it will take a lot less wear and tear. something i can pass on to my son or grandkids and i think it is a great investment. to me it is worth it. the problem i kind of have with

what you are saying is you guys are great if i am selling the watch, but on the other end of the equation if i am a potential buyer of one of these i feel like what about me? you're doing a great job for the person selling the watch but can i get the same watch for less than 80,000 somewhere else? >> wii branded about helping sell their watch. that is our brand. but the way we sell the watches is we do a lot of ways, we listed on our site, on other sites, listed on ebay, 50,000 individuals, so what we have done is let the market determine the value of a watch as opposed to us. stuart: that is not a bad answer. >> but charles, we will make an exception for you. for you. for both of you. stuart: he is well loved and palm beach.

crown and caliber.com. by now you know it, obamacare is a disaster and it cost one official his job. find out why after the break because the judge is next.

stuart: big-name, abercrombie reporting the quarterly results on thursday afternoon. the stock is down 28% so far this year, but today bouncing back in advance of the financial reports just 3% up, not bad. washington, d.c., insurance commissioner fired just one day after criticizing president obama's so-called insurance. can you fire someone for something like that? all rise, judge napolitano is here. >> what happened to freedom of speech? stuart: he is in washington, d.c. he says hold on a minute,

mr. president, this fix of yours to insurance companies people can keep their plan, that is not going to work. he is fired, what is going on? >> you know, he has a job, political appointment. subject to the whim and happiness of the person who appointed him. the person who appointed him was the mayor of the district of colombia decided he did not want this guy on his team. the words manifested a sentiment inconsistent with the mayors management of his administration. so this is one of the rare instances in which you could be punished by the government because of the words you articulated when you agree to accept a job subject to your conformity to a certain set of standards. whatever the mayor wants, i support, even if it is objectively absurd.

stuart: washington state the police commissioner said no, you can't go back to the plan you like, not going to have it. but he is still around, he is not fired. >> the commissioner of insurance made a very prudent observation. he cannot change the laws of economics and the president cannot change the law of the land. only the congress can change the law of the land so they are correct. just having a governor who is more willing to accept sound thinking rather than political correctness. stuart: he abandoned the employer mandate, isn't that a change? in black and white. january 3, 2014. nobody is going to challenge him for him to have said what he said last thursday, which is if you have that policy can we can keep it. it is absurd as millions of

people have already lost them. he can't tell insurance carriers and now have to reinstate the policies. charles: this whole thing is about intimidation. even when we spoke the tone of the press conference was i will make the insurance companies not only reinstate them, but be proxies of my plan. let them know how good the new plans are. can he force insurance company to be there for obamacare? >> no, nor can he force them to do anything outside of the statutes which says this is the minimum policy. stuart: moments ago i sent you an e-mail. i did not type it into my new iphone, i spoke it into the new iphone. i believe it recognized my

accent and transmitted the e-mail to you, did it not? >> said it arrived, this is a voicemail for you, judge, and i believe that is what you said. my mother will love this. just like we had in the old country. stuart: i went through a traumatic weekend. and you know what happened? i was on the set this morning and steve ducey said forget about your fat thumbs, speak into it. press that little button, speak into it and lo and behold it worked. >> did have two realize unique way you speak? >> the acclamation was my fury over the weekend. i love it. thank you very much, indeed, everybody. the story we have frequently on

"varney & company." why aren't there more female tech executives and wh why are y taking heat for it? the story next. ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volumetocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade.

stuart: look at this, everybody. the dow hit 16,000, staying there for now, at least. right after the opening bell. and the s&p 500 went above 1800, first time we have ever seen that. boeing makes sales numbers for them. it came at the dubai air show up 2.5%. watch out, netflix, amazon first original streaming content with a political drama "alpha house." now to sony, they sold more than 1 million playstation 4 in the first 24 hours they went on sale, just in north america. $400 apiece. check apple, they bought a company that makes technology for the xbox, apple down, microsoft down. [ male announce] 1.21 gigawatts. today, that's easy. ge is revolutioning power.

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stuart: straight to nicole. sprint is at a high and i want to know why. nicole: the group is doing very well. watch the group overall on a day that the market are hitting records as well, dow 16,005 right now. stuart: charles will make us some money he says with bottom line tech. go. charles: is that they are taking

money from the tech names. stuart: coming out of the highfliers a little bit. charles: the company recently reported numbers reinventing themselves. they do cloud services or banking and insurance industry. we talk about the health care law all the time. i think they are right, they will be at a conference tomorrow at deutsche bank. they are rocking on all cylinders. my only quibble would be management has hinted it would get better. i think the stock really takes off. stuart: in palm beach into that stock three at charles: absolutely, because i want to go back. stuart: and i want to go with you. twitter being slammed for having no women on their team. they do, but not as many as somebody would like apparently.

should tech company be obligated to put women on the board or make them top executives to be politically correct? here with the tea party network. news network. i'm going to get it right. you are in the tea party, you are out there, what do you think of the political correctness of pushing women into executive positions? >> the tea parties known for being so politically correct. not. said no one ever. they should not be obligated to bring on a woman. they should want to bring on a woman considering 80% of household spending is usually done by the female and each of the female of the household they should want to bring on the female. but you are not seeing this. stuart: why is that? a difficult question to ask because it is politically incorrect, is there something about the female brain that is a

deterrent getting on board with text, is there? >> females all the time are embracing technology. pretty much silicon valley is very liberal and the majority are blasting republicans for wanting to put barbie in the binder when in reality republicans are the ones who say to do whatever you want whether it is inside or outside, we offer it to you. silicon valley seems to be closing the door. stuart: good for you, but you have not explained to me why there are very few women on board at the top of these brand-new all-american technology companies. >> when you look at 40% of new businesses open in silicon valley are open by outside the u.s. companies or outside investors, we have to sit there and say if you look at other companies like india, china, they are not as advanced as

women in the workplace. as might be a small inclination between liberalism and outside investors, they don't have a chance. stuart: charles wants to go in. quick. charles: the beef i hear early on his young girls are persuaded from math, it is overused, too difficult for you, at least persuaded to go in a different direction. >> that may have been 10, 20 years ago. unfortunately families cannot survive a man working and women staying at home barefoot and pregnant by the oven. now to be puppets we provide inn income to sustain a family. 10 years ago we thought we saw that develop with impending health care costs. stuart: speaker nancy pelosi, former speaker nancy pelosi said the republicans should be very worried because they shut down

the government. >> the key is it is like she is riding the titanic on this one. she is going hey, guys, keep serving the wine, keep lying the band and trust me it will all be okay. stuart: you'r you are looking fe tea party to sweep in 2014. >> we are looking what the g.o.p. will do in all honesty. if they continue a conservative method. stuart: acid is a 30% chance obamacare will be repealed soon. you go above and beyond that, 50%, 60%, what do you say? >> i agree with you. as a pelosi is going to stand by her man. >> you wrote that out in advance, didn't you? >> not at all. we are innovative.

stuart: from the tea party news network based in tennessee. >> based out of arizona. >> i live in nashville. stuart: thank you very much. bitcoin had to capitol hill. more on that coming up next. with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluatehem with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.

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>> coming up on the dobbs tonight, president obama putting it on states and insurance companies to satisfy his campaign promise but only for ye. orgistatheal insance commsion on the obama mess tonight. join us. stuart: nevermind dow 16,000. listen to this, bitcoin the value of one bitcoin virtual currency has just hit $600. i believe that is a new high. what do you make of it? charles: this is up 4000% year to date. again, i see a couple things.

i think the idea of a currency with a central bank behind it everybody that is complaining about the fed printing or the central bank printing artificially changing the valuations, this is something right now there is no central control over. this is to me an indictment of the currency and central bank. your greater acceptance of it. stuart: would you do this? charles: i wouldn't do it, but i love the concept of it. here is my fear, every comic it'd mathematical formula people go in and once they break it, new bitcoin get formed and the form that gets more difficult. there will be a limited amount of them. they both took to need to go up in value if people use them. but i don't know how enforceable that is. stuart: what is to stop the people who own a bitcoin or two, let's just flooded the market with more of them? charles: you cannot do that.

once you break it open, it is more difficult again it is so tough and technically over our heads but the concept of it is amazing. this website where people were buying illegal drugs using bitcoin. when that went down earlier this summer that is when bitcoin fell apart. but it has made a dramatic rebound since then. i pla tell you what, i love it a proxy against currency. this may be playing that role now pit stuart: yes, i have an iphone and you the viewers have responded. we will deal with it next.

stuart: right before the show on friday i was given a new compa company iphone. i spent the weekend learning how to use it. i'm still kind of frustrated. here's what you had to say about me trying to position from a

blackberry to an iphone. first law gary. there is a several weeks learning curve, hang in there, do it now or do it later that you will have to switch eventually. patrick predicts he will go back to the blackberry. if you're used to set a multiple messages throughout the day, nothing can replace the ergonomics. i would love to go back to the company won't let me. it is a death spiral for blackberry. actually i am not sure about that, but what do you have, charles? charles: the samsung. stuart: what kind of an american are you? charles: this is a phenomenal thing, you can do almost all the same things you have can. stuart: at this age i still don't wear glasses or contacts. hey, connell.

connell: what kind of an american are you. moving to an american based apple. i'm sharing it with the lovely dagen mcdowell. talk to people running for congress, high-profile democrats try to change the subject instead of talking about obamacare, the subject turning to hillary clinton's presidential campaign but still a long way off. the great money bubble. why we will all pay the price for what the world central bankers are doing right now. here to talk with us about that. apple is looking to go 3d maybe. trying to buy the company behind the 3d cameras and microsoft's xbox 360. and the meningitis scare in new jersey. has the government now looking overseas for a vaccine that has only been found there. big-money implications to this as well and we will have it coming up this hour of "markets now."